Cryptos are on the verge of crossing the tipping point into mainstream adoption with a survey of 15,000 individuals finding 9% of Europeans hold cryptocurrencies.
The figure stands at 8% for America and 7% for Australia with Spain, Poland, Romania and Turkey having already crossed the 10% threshold.
According to a 2011 study “when just 10 percent of the population holds an unshakable belief, their belief will always be adopted by the majority of the society.”
With the survey finding almost all of Europe has crossed the threshold regarding whether they expect to own cryptos in the future.
In some of the most remarkable crypto stats we have seen, half of Turkey, a quarter of Britain and 30% of America thinks cryptos are “the future of spending online.”
About as much think it is the future of investment with an equal number thinking cryptos will rise in value in the next 12 months.
The majority of Europe, at 54%, think cryptos are less risky or as risky as the stock market. An incredible 37% think digital currencies like bitcoin or eth are less risky or as risky as government bonds.
They do not provide a breakdown by country for the attitudes towards risk, so we can not see whether there is any outlier like Greece, but with global government debt rising to $60 trillion, perhaps it is no wonder so many of them think cryptos are less risky.
Perhaps more surprising is the fact the majority think cryptos are less risky than stocks. By that they might mean a company can go bankrupt, but something like bitcoin or ethereum is just a global network so can’t be mismanaged like a company.
Which all suggests the public is a lot more informed than we though. The vast majority of them, at 66%, have heard of cryptocurrencies, and plenty of them seem to consult specialist websites.
With the biggest takeaway of it all being that cryptos are now seemingly about to enter mainstream adoption in holdings as that 10% threshold is just about met ten years on since bitcoin’s invention.